EXHIBIT 10.60
FINDERS AGREEMENT
This Finders Agreement
(“Agreement”) made this 13 th day of June,
2009 in Albuquerque, New Mexico, shall serve as the complete and
final understanding by and between Santa Fe Gold Corporation (the
“Company”), 1128 Pennsylvania Avenue NE, Suite 200,
Albuquerque, New Mexico 87110 and Jackie E. Stephens
(“Stephens”), 6845 North Magic Lane, Tucson, Arizona
85704.
WHEREAS, Stephens is an
experienced geologist and exploration manager and has personal
knowledge of the geology and mineralization of the Pilar Gold
Property in Sonora, Mexico, consisting of the Guadalupana and the
La Sonora concessions containing approximately 100 hectares;
and
WHEREAS, Stephens and his
associates Greg Smith, John Ryan, Howard Crosby and Julian Bennett
(“Finders”) introduced the Company to the Pilar Gold
Property; and
WHEREAS, on June 13, 2009, the
Company’s subsidiary Minera Sandia S.A. de C.V. entered into
an option contract with Minera de Suaqui Grande S. de R.L. de C.V.
(“MSG Contract”) to purchase the Pilar Gold Property, a
copy of which option contract is attached to this
Agreement;
THEREFORE, in consideration of
the mutual promises contained herein, the receipt and sufficiency
of which is hereby acknowledged, the Company and Stephens agree as
follows:
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1.
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At the Company’s request,
Stephens shall act as the Company’s representative in Sonora,
Mexico and shall administer and manage exploration work on the
Pilar Gold Property and shall identify other properties for
potential acquisition by the Company. For specific assignments
carried out on behalf of the Company, to be agreed in advance
between the Company and Stephens, the Company will pay Stephens at
a consulting rate of $400 per day. It is understood that this
Agreement does not restrict Stephens with respect to other
exploration activities with which he may be involved.
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2.
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Upon execution of this Agreement,
the Company shall forthwith arrange for 25,000 shares of the
Company’s restricted common stock to be issued to
Stephens.
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3.
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Within 60 days of execution
of
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